Financial News
Wilbur Ross confirmed to lead Commerce DepartmentExternal Link

The U.S. Senate confirmed Wilbur Ross as secretary of commerce Monday evening by a 72-27 vote. Ross, 79, a billionaire investor, is expected to play a crucial role in President Donald Trump's plans to change U.S. trade policy, including renegotiating the North American Free Trade Agreement.

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Tue, 28 Feb 2017 00:47:43 GMT
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Kindred Healthcare tp halt dividend after March to pay debt, invest in growthExternal Link

Shares of Kindred Healthcare Inc. rose more than 4% late Monday after the company said it will halt its dividend after a March dividend payment in order to pay down debt and invest in growth. Kindred said in a statement its board of directors approved a cash dividend of 12 cents a share, payable March 31 to shareholders of record March 13, and has determined that the company's stock trading levels "do not sufficiently reflect the value of the company's quarterly cash dividend." Shares of Kindred ended the regular trading session up 3.3%.

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Mon, 27 Feb 2017 22:12:53 GMT
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Elon Musk's SpaceX to fly two people to the moon in 2018External Link

Privately held SpaceX said late Monday it has been approached to fly two "private citizens" on a trip around the moon late next year. The two people have already paid a "significant deposit" to do a moon mission, the company, led by Tesla Inc. CEO Elon Musk, said in a statement. "Like the Apollo astronauts before them, these individuals will travel into space carrying the hopes and dreams of all humankind, driven by the universal human spirit of exploration," SpaceX said. Health and fitness tests as well as training will begin late this year, the company said. "Other flight teams have also expressed strong interest and we expect more to follow. Additional information will be released about the flight teams, contingent upon their approval and confirmation of the health and fitness test results," the company said.

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Mon, 27 Feb 2017 21:56:56 GMT
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Dow on the verge of making history with a 13th gain on TuesdayExternal Link

Lucky 13! That's the history-setting mark the Dow Jones Industrial Average is on track to hit, if it finishes in positive territory on Tuesday. That would mark the 13th straight record close for the Dow , which would represent the longest such record streak in the history of the roughly 120-year old equity benchmark, according to Dow Jones data. On Monday, the stock gauge registered its 12th straight record, finishing up 15 points, or 0.1%, at 20,837--matching the longest record streak going back to 1987. The S&P 500 index and the Nasdaq Composite Index also closed higher. The moves come ahead of a highly anticipated address from President Donald Trump Tuesday night in front of a joint session of Congress, where investors hope that he will offer more details on his business-friendly policies. Equities, here and abroad, have rallied mightily since Trump's election victory in November, on the hopes that he will make good on campaign pledges to deliver tax reform, loosen regulation and back a raft of fiscal stimulus plans.

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Mon, 27 Feb 2017 21:46:28 GMT
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Tenet Healthcare plunges after wide earnings, forecast missExternal Link

Tenet Healthcare Corp. fell 10% in late trading Monday after substantially missing earnings expectations. The hospital operator reported a fourth-quarter loss of $79 million, or 79 cents a share, on revenue of $4.86 billion. After adjustments for restructuring- and acquisition-related costs, as well as other effects, Tenet claimed profit of 6 cents a share. Analysts polled by FactSet expected on average for Tenet to report adjusted earnings of 22 cents a share on sales of $4.96 billion. The company also whiffed on its forecast, projecting first-quarter losses of 45 cents to 60 cents a share on sales of $4.75 billion to $4.95 billion, and full-year profit of $1.05 to $1.30 a share on sales of $19.7 billion to $20.1 billion. Analysts projected first-quarter adjusted profit of 45 cents a share and sales of $4.95 billion for Tenet, and full-year adjusted earnings of $1.97 a share on revenue of $20 billion. Shares decline to less than $20.50 in after-hours action Monday, after closing with a 3.1% gain at $22.67.

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Mon, 27 Feb 2017 21:43:58 GMT
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